It's more the super funds that have the investment strategy. Usually along the lines of cash, balanced, high growth or similar. You just choose which one. If you haven't chosen, most will just stick you in their balanced option. Which one you choose depends on lots of things such as, you're age, level of risk aversion and so on. A financial planner would talk you through those sort of things. Banks have free planners usually but they will recommend their own products because that is how they get paid. It's not necessarily the best product. By product I mean super fund/ insurance/ whatever it is you're asking about lol.